Updated March 17, 2017: James Gunn has clarified his previous comments about the still unconfirmed second Guardians of the Galaxy sequel, tellingYahoo! Movies that plans for what he calls Guardians of the Galaxy Vol. 3 aren't as set in stone as his previous comments may have suggested.

“There are no specific plans for Guardians of the Galaxy Vol. 3,” Gunn clarified. “But we know unless something goes horribly — which is always possible, you never know — I think that Marvel would want to make another movie. [Marvel chief] Kevin Feige a year-and-a-half ago said, ‘Yeah, one of our things that we’d be thinking about will be a Guardians 3.‘”

Gunn also reiterated that even if Guardians Vol. 3 does happen, he's still on the fence as to his own involvement.

“So is that Vol. 3 or not? Is that the thing I’d want to do next or not? I don’t know, we’re talking about it," Gunn explained. "We’re figuring things out. And we’ll see where it goes. I’m excited about where the Guardians are gonna go, I’m excited about what they can do, and I have a thousand ideas for where the characters would go and the things they would do and what would happen next.”

Original Story: Writer/director James Gunn has confirmed that there will be a third Guardians of the Galaxy film. The writer/director had previously been on the fence about a third film and even his involvement in it, but in a new interview with Complex the 46-year-old filmmaker said he and Marvel have agreed and are "trying to figure it out" in the next few weeks.

"There will be a Guardians 3, that's for sure. We're trying to figure it out," said Gunn. "I'm trying to figure out what I want to do really, that's all it is. I got to figure out where I want to be, what I want to spend the next three years of my life doing. You know, I'm going to make another big movie; is it the Guardians or something else? I'm just going to figure it out over the next couple of weeks."

Gunn is currently out promoting the new film The Belko Experiment, which he wrote and produced for MGM.

Guardians of the Galaxy Vol. 2, which hits theaters May 5, was announced the week before the original Guardians of the Galaxy was released. If a third film is completed at the same rate the second film was, it could be expected as early as 2020 - for which Marvel has already staked out three dates: May 1, July 10, and November 6.